Why Tax Planning Matters
While often overlooked, robust tax planning is one of the most valuable pieces of a complete financial plan, and we are excited to offer it to you.
WHAT IS TAX PLANNING?
Tax planning refers to our review of your tax return to identify potential planning opportunities – both now and in the future. This is different than tax preparation (usually done by your CPA or an online service like TurboTax), which is focused on keeping you compliant with what the government thinks you owe each year.
WHY IS TAX PLANNING IMPORTANT?
Taxes touch every part of your financial life. Your tax return is a financial fingerprint: it’s completely unique to you, complete with valuable clues and information, all of which is buried in dozens of pages and hundreds of numbers. Understanding your return equips us to have more valuable and actionable conversations with you. Additionally, we can demystify the world of income taxes and help you understand this important piece of your financial picture.
WHO IS TAX PLANNING FOR?
Everyone! Regardless of your income sources or filing status, nearly anyone who pays income taxes can benefit from having a professional review of your tax return to identify relevant planning opportunities. We may be able to identify a handful of tax-saving opportunities, both in the current year and in future years.
WHAT KIND OF OPPORTUNITIES MIGHT BE IDENTIFIED?
We will evaluate a number of opportunities during tax planning, including topics like most tax-efficient retirement vehicles, charitable giving strategies, realizing capital gains, Roth IRA conversions, tax credit eligibility, and more. We can run projections to see how potential changes (e.g., filing status, dependents, the sale of a business, stock option exercises, etc.) may impact your upcoming tax liability.
WHAT DO WE NEED FROM YOU?
Does this sound like the kind of value add you want from an advisor? Contact EKFF to discuss tax planning and all the other ways we can help you plan your financial future.
Source: Holistiplan https://www.holistiplan.com/
Categories
Recent Insights
-
The Psychology of Money for Kids: How Couples Can Teach Financial Literacy Together
Why Teaching Kids About Money Starts Early Children begin forming beliefs about money far earlier than many parents realize. By the time they’re in kindergarten, many kids already show emotional reactions to saving, spending, and sharing. These early money behaviors aren’t just shaped by conversations—they’re based on what kids see, hear, and feel in their…
-
Talk Your Chart | Dollar Down. Energy Up. What’s Next? | Episode 70
In Episode 70 of Talk Your Chart, Marcos and Brett break down China’s energy dominance, the frozen U.S. housing market, a softening job landscape, and what the falling dollar means for investors. Plus, they discuss market concentration and why it might be time to look beyond the biggest names in the S&P 500. Charts available…
-
Executive Order Could Bring Alternative Investments to 401(k) Plans: What You Need to Know
For millions of Americans, 401(k) accounts are the cornerstone of retirement savings. A new proposal from the White House could expand what you can invest in—and potentially reshape your long-term strategy. This new Executive Order could eventually change the types of investments available inside your 401(k) or other employer retirement plan. While nothing is changing…
-
Smart Starts: The Best Books and Games to Teach Kids About Money (Ages 4–12)
Why Teaching Financial Literacy to Kids Matters Financial literacy is one of the most important life skills we can teach children—and yet, it’s rarely part of the standard school curriculum. Left unaddressed, money can become a source of confusion or even anxiety later in life. But taught early, it becomes a tool for empowerment. The…
-
One Big Beautiful Bill: Key Financial Impacts for LGBTQIA+ Households
On July 4, 2025, President Donald Trump signed the “One Big Beautiful Bill Act” into law—a wide-reaching piece of legislation that touches everything from tax rates and healthcare to education, housing, and family benefits. For LGBTQIA+ individuals and families, some of these changes may create new planning opportunities, while others may require a closer look…
